Henry Spending like a Drunken Sailor? After further examination of the governor's executive budget, House appropriations chairman Rep. Chris Benge said Tuesday that the fine print reveals worrying details that could leave taxpayers on the hook for a billion dollars in new spending and debt. Benge said the governor is pushing to expand state government using surplus money instead of paying for existing needs. It's our job to ask tough questions, and this does not seem to be a realistic budget, said Benge (R-Tulsa). I'm troubled by the governor's push for new spending while racking up unnecessary long-term debt as a fix for spending commitments." Benge said that in December, the governor publicly cautioned lawmakers to be careful about overextending the state with new spending and new programs. "We would respectfully ask the governor to follow his own advice, Benge said. However, it appears the governor is attempting to point us in a direction that will lead to financial hardship." After looking through the governor's executive budget, Benge said he found that while the governor proposes more than half a billion dollars in new spending and $663 million in bonds, he offers no additional tax relief for the state's citizens. Notably, Benge said the governor appears to be trying to make up for the lottery's $40 million shortfall by proposing long-term bond issues. For example, the governor's proposed $18.8 million in bonds for common education ad valorem reimbursement creates 20 to 30 years of debt for one year of school operational costs. Benge has questioned some state revenue growth estimates for the 2008 fiscal year. For example, gross production collections are currently $74 million below estimates for the 2007 fiscal year, yet increases have been projected for FY 2008. There has also been a projected increase of 134 percent for corporate income taxes for FY 2008, which Benge said goes against a number of established trends. The governor also proposes a 34.1 percent increase in funding for the lieutenant governor, though he told journalists this weekend he felt the office was a waste of taxpayer dollars.

Labels: Brad Henry, Budget, Rep. Chris Benge

Posted at 2/14/2007 09:30:00 AM